With great properties and conveniences around, Kolkata has long been a popular destination for home buyers and real estate investors. While the profitability of Investing in a flourishing city is unquestionable, the best type of property to invest in certainly is. The discourse on residential plots vs flat will continue to be the hot potato in 2024. Of course, both property types have their unique merits and demerits. However, it is essential to understand things with a more holistic approach to arrive at the right decision.
Residential Plot Vs Flat: A Comparative Analysis
Let us weigh the characteristics of residential plots against flats in Kolkata.
Residential Plot: Freedom of Customization + Higher Returns
One of the most impeccable benefits of investing in a residential plot is that the investors get to develop and customise their space as per their requirements, unlike a flat. You can incorporate unique designs to add to your bungalow’s aesthetic appeal, upgrade the outdoor space, etc. Such personalisation can also enhance the value of your property when you are looking to resell it.
Another crucial upside of investing in a residential plot is that you can extend the house in the future as your family grows or your needs change. Extending or renovating a standalone house is far easier compared to a flat in a multi-storied building where space constraints and building regulations can pose significant challenges.
Besides, due to the booming real estate market of Kolkata, the property values here continue to appreciate. The city is also witnessing rapid development across various regions, particularly Ujaan Nagar, New Town, Rajarhat, and the surrounding areas. Investing in a residential plot in these emerging areas can hold significant promise for future returns, as infrastructure and connectivity improve
Flat: Convenience Comes with Limitations
While flats provide a ready-to-move-in and hassle-free option for home buyers, they also come with certain limitations compared to residential plots. They don’t provide the same degree of personalization as residential plots.
For example, it can get really challenging to add an extra room or carve out a separate space in a place that’s already compact. In addition, you can do much about the structure of your apartment as it is aligned with the building, and any inordinate modifications can put the building’s structure at risk.
Also, flats may offer amenities such as swimming pools, gyms, and clubhouses, however, you often have to pay an extra fee regardless of whether you are using them. The value of a flat tends to depreciate over the years as the building ages.
However, buying a flat does not require you to fulfill multiple complex legal formalities. The paperwork is only limited to your apartment. Conversely, in the case of a residential plot, you must conduct a thorough research about the property and practice due diligence by ensuring that the property has clear land titles and the necessary permissions to avoid any unwanted legal hassles in the future.
Residential Plot vs Flat: The Last Word
Residential plot vs flat is an age-old debate in the real estate arena. While both property types have their distinct advantages, residential plots emerge as the more favourable choice for investors considering personalization, future expansion, and long-term investment returns.
However, it is crucial to conduct out-and-out research on the property, factor in your budget and requirements, and make an informed choice accordingly. Kolkata’s real estate landscape offers a promising opportunity for those willing to invest in the right property, like the Sri Sai Ujaan Nagar Township project. The 100+ acres project with over 500 units and diverse configurations provides investors with a propitious chance of earning good returns. Contact us today!